An inside day today on average volume, the SPY traded around the 20 day MA all day and ultimately closed closer to the highs. Real estate (URE, IYR), financials (UYG, GS) and transports (IYT) lead the way, copper (JJC), steel (SLX) and gold miners (GDX) trailed. Strength in the dollar led to weakness in those commodity names and there were a couple of good support break shorts in AA and SCCO.


Support buys on moving averages are also still working the rally, go through your watch list and see how many bounced off of a MA today, so be aware of those levels. The caveat is that the more a level is tested the weaker it gets so it you are trading something that has tested a moving average a couple of times beware. Another strong down day in the market is going to cause some of these levels to break.

Tonight’s list is a mix of breakout longs, breakdown shorts and reversal/support buys. If you start to see the reversal/support buys work and the market is bouncing then proceed but if you see one after another fail take a pass and maybe look to short a break of the MA.

amgn 57 short

gpn 42.5 short

gymb 49 short

mos 50 short

sgy 16 short

sohu 48 short

csx 58 long

eog 115 long

mmm 90 long

amzn 134 reversal/support buy on 50 day MA

bmc 38.8 reversal/support buy on 50 day MA

bpi 23 reversal/support buy on 50 day MA

bucy 56.75 reversal/support buy on 150 day MA

cenx 12.09 reversal/support buy on 200 day MA

cli 33 reversal/support buy on 200 day MA

joyg 54.22 reversal/support buy on 150 day MA

netl 30.25 reversal/support buy on 50 day MA

osk 37.9 reversal/support buy on 150 day MA

podd 13.47 reversal/support buy on 150 day MA

sanm 17.4 reversal/support buy on 50 day MA

sid 17.32 reversal/support buy on 150 day MA

stx 17.71 reversal/support buy on 150 day MA

wfsl 19.16 reversal/support buy on 150 day MA

wlt 75.74 reversal/support buy on 150 day MA

wmt 53.32 reversal/support buy on 150 day MA

x 51.44 reversal/support buy on 150 day MA